Last week, South Korean digital currency exchange Coinnest mistakenly airdropped more than $5 million worth of cryptocurrency and Korean won to its customers, according to reports from Coindesk. Now, the exchange is asking those users to return the funds as it takes steps to roll back the erroneous transactions.

The airdrop was originally intended to send those customers We Game Tokens (WGT), but a computer glitch apparently caused the exchange’s systems to deliver Bitcoin, other cryptocurrency, and fiat assets to users instead. Reports suggest that the company’s “server issues” were corrected this weekend, and company officials have indicated that they will execute a transaction rollback to recover assets.

According to Coindesk:

As of Jan. 19, about half of the won was returned.

Some traders who received bitcoin instead of WGT reportedly sold their new holdings immediately, causing bitcoin’s price to flash-crash to $50.

Author: Ken Chase

Freelance writer whose interests include topics ranging from technology and finance to politics, fitness, and all things canine. Aspiring polymath, semi-professional skeptic, and passionate advocate for the judicious use of the Oxford comma.

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The federal government, in considering any legislation, regulation and policies, create an environment that fosters innovation for digital currencies and their associated technologies. As such, the government should exercise a regulatory “light touch” that minimizes actions that might stifle the development of these new technologies.

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